Albertsons Companies Q2 Earnings Top Estimates

Albertsons Companies Inc ACI reported second-quarter FY22 sales growth of 8.5% to $17.92 billion, beating the consensus of $17.72 billion.
Identical sales increased by 7.4%. Digital sales increased 36%.
Gross profit increased 6.1% Y/Y to $5 billion. Gross profit margin contracted 70 bps to 27.9%.
Selling and administrative expenses increased 6.1% Y/Y to $4.5 billion and were 25% of sales.
The operating margin was 2.96%, and operating income for the quarter was $531 million, a 9.3% Y/Y increase.
Adjusted EPS of $0.72 beat the analyst consensus of $0.65.
Adjusted EBITDA for the quarter rose 8.6% Y/Y to $1.04 billion.
Net cash provided by operating activities for six months totaled $1.6 billion. The company held $3.4 billion in cash and equivalents as of September 10, 2022.
On October 13, 2022, the company entered into an agreement and Plan of merger with The Kroger Company KR
Price Action: ACI shares are trading higher by 0.17% at $26.48 on the last check Tuesday.

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